Central Bank excludes the cancellation of three zeros in the Iraqi dinar is currently
Baghdad / Hisham Rikabi
The CBI said that the news about the orientation of monetary policy towards the elimination of three zeros from Iraqi dinar is a long-term strategy of the Bank in improving the management system of currency. He told the National Information Center (range) for the official in the Iraqi Central Bank to cancel the zeros of the value of currency is the procedure to be followed in most central banks in countries that experienced long periods of hyperinflation and mass have generated substantial monetary conditions require better economic management in favorable conditions and stable . And on the face of criticism that monetary policy in Iraq in raising the value of the dinar against the U.S. dollar, the source said authorized to disagree with the opinion of some in raising the value of the Iraqi dinar against the dollar that Iraq has a surplus in the balance of payments,
He explained that modern monetary theory, see the improved terms of trade cause, calling for the fight against monetary imbalances inherited the Iraqi economy through the adoption of the names of installed to meet the inflationary expectations to achieve economic stability, and on this basis, the Iraqi dinar's value will rise.
He continued to say as well as provide the exchange rate policy caused by external variables facing higher food prices and other commodities universally leads to imported inflation can not be addressed only through improved value of the dinar and the foundations under the terms of trade, which is still working for the benefit of the national economy.
On the possibility of improving the value of local currency, and expectations that the exchange rate is close to the reality of thousand Iraqi dinars per hundred dollars, he said the Iraqi dinar exchange rate and improve the value contingent upon two factors, first is the international foreign Tuaralaaniattiyat with the CBI, and the second is the level of inflation. And on possibility of a perceptible impact of the global crisis affecting the banks of the world in Iraqi banks and the civil government, the authoritative source said that Iraq is relatively far from the financial crisis afflicting the international financial system for many reasons, foremost of the international reserves of the Central Bank of Iraq is still far from being managed and the risks investment securities is far from the sovereign current market speculation.
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Baghdad / Hisham Rikabi
The CBI said that the news about the orientation of monetary policy towards the elimination of three zeros from Iraqi dinar is a long-term strategy of the Bank in improving the management system of currency. He told the National Information Center (range) for the official in the Iraqi Central Bank to cancel the zeros of the value of currency is the procedure to be followed in most central banks in countries that experienced long periods of hyperinflation and mass have generated substantial monetary conditions require better economic management in favorable conditions and stable . And on the face of criticism that monetary policy in Iraq in raising the value of the dinar against the U.S. dollar, the source said authorized to disagree with the opinion of some in raising the value of the Iraqi dinar against the dollar that Iraq has a surplus in the balance of payments,
He explained that modern monetary theory, see the improved terms of trade cause, calling for the fight against monetary imbalances inherited the Iraqi economy through the adoption of the names of installed to meet the inflationary expectations to achieve economic stability, and on this basis, the Iraqi dinar's value will rise.
He continued to say as well as provide the exchange rate policy caused by external variables facing higher food prices and other commodities universally leads to imported inflation can not be addressed only through improved value of the dinar and the foundations under the terms of trade, which is still working for the benefit of the national economy.
On the possibility of improving the value of local currency, and expectations that the exchange rate is close to the reality of thousand Iraqi dinars per hundred dollars, he said the Iraqi dinar exchange rate and improve the value contingent upon two factors, first is the international foreign Tuaralaaniattiyat with the CBI, and the second is the level of inflation. And on possibility of a perceptible impact of the global crisis affecting the banks of the world in Iraqi banks and the civil government, the authoritative source said that Iraq is relatively far from the financial crisis afflicting the international financial system for many reasons, foremost of the international reserves of the Central Bank of Iraq is still far from being managed and the risks investment securities is far from the sovereign current market speculation.
http://translate.googleusercontent.c...tR2opMXHiV10NQ
http://www.almadapaper.com/paper.php?source=akbar&mlf=interpage&sid=53450